HELP! Fiat Punto Finance Owing & Failed MOT...

iwanttosave_2

Dave_Brooker wrote: »

"The car must be in reasonable condidtion"

Bald tyres and no MOT might not help....

My father in laws car was knackered, they still took it back.

Not sure which finance company though.

Dave_Brooker

iwanttosave wrote: »

My father in laws car was knackered, they still took it back.

Not sure which finance company though.

So best outcome for all is to buy cars on finance, run them into the ground, and then cry and make finance co take them back?

I suppose this plan only works the once though because you have no hope of getting credit ever again...

mpython

Jenijellybean,

How much finance is outstanding? is it cheaper to pay off the finance rather than repair the car? In which case you can then sell or scrap without any hassle.

The only finance companies that take cars back that I'm aware of are leasing companies, or HP where people default (I presume you're not planning to do that, otherwise it could end up costing you an awful lot of money!)

I know you've already had an MOT, but did you use a private garage or one of the local authority MOT centre (if you do a search you'll find a thread on how they are really good as they don't do repairs & therefore don't have a vested interest in failing cars - but on the other hand, an MOT does check a lot of safety features like steering & tyres, so best to be safe).

Have you any friends or relative who may be able to recommend a local, dependable repair garage? as espresso says, prices for tyres vary widely, so maybe try a good few more places before coming to a decision.

iwanttosave_2

Dave_Brooker wrote: »

So best outcome for all is to buy cars on finance, run them into the ground, and then cry and make finance co take them back?

I suppose this plan only works the once though because you have no hope of getting credit ever again...

My father in law can still get credit

jenijellybean

mattymoo wrote: »

Is it defo the steering column and not the steering rack.
To clarify, rack is between the wheels and is a wearing item. You can buy fully reconditioned units quite easily.
Column is at right angles to rack and goes to steering wheel. Doesn't normally wear or suffer damage.

Yes, definately the steering column.

We have also been on the FiatForum and apparently the problem is not always solved with this and its a "common" fault with our reg car.

jenijellybean

mpython wrote: »

Jenijellybean,

How much finance is outstanding? is it cheaper to pay off the finance rather than repair the car? In which case you can then sell or scrap without any hassle.

The only finance companies that take cars back that I'm aware of are leasing companies, or HP where people default (I presume you're not planning to do that, otherwise it could end up costing you an awful lot of money!)

I know you've already had an MOT, but did you use a private garage or one of the local authority MOT centre (if you do a search you'll find a thread on how they are really good as they don't do repairs & therefore don't have a vested interest in failing cars - but on the other hand, an MOT does check a lot of safety features like steering & tyres, so best to be safe).

Have you any friends or relative who may be able to recommend a local, dependable repair garage? as espresso says, prices for tyres vary widely, so maybe try a good few more places before coming to a decision.

There is £2,000 owing on the car.

Thanks for the info re Local Autority Centres. I will look into that today.We were in a blind panic yesterday but hopefully we can sort it out now with a clearer mind!

montypython_3

Under Hire purchase agreements you will have halves and thirds protection. Once you have paid one third of the total amount payable the car cannot be repossed without a court order.
Once you have paid half the total amount payable you can hand the vehicle back to the finance company and pay no more. However the vehicle must be subject to fair wear and tear. How long have you had the vehicle and how long was the finance agreement over?
You may be able to hand the vehicle back and just pay them an amount for it not having an MOT they will not know how much work is needed as they will just send the vehicle to auction. May be worth speaking to the finance company.

This will not affect your credit rating in any way as it is written into the contract that you are allowed to do this as long as it is a Hire purchase agreement and not a personal loan tied to the car.

Hope this helps